Stablecoin Tether’s giant is trying to collect between $ 15 billion and $ 20 billion for a participation of around 3% in the company thanks to a private investment, Bloomberg reported, citing two people familiar with the problem.
The massive increase would bring its valuation to around $ 500 billion, which placed it in the same league as Openai and SpaceX, Bloomberg reported. Tether would publish new equity, and Cantor Fitzgerald acts as a principal advisor.
The Tether USDT has a market capitalization of around 172.8 billion dollars, making it the largest among the stabbed. Circle, which is recently made public in the United States, is the USDC issuer, which has the second market capitalization of $ 74 billion, according to CoinmarketCap data.
The increase in the increase comes when Tether recently declared $ 4.9 billion in net profits in the second quarter and held more than $ 162.5 billion in reserves against $ 157.1 billion in liabilities. It also contains about $ 8.9 billion in Bitcoin in its reserves.
Bloomberg said that transactions on transactions are at the start of the stadiums and that the final number of the increase could be considerably lower. According to the report, potential investors have had access to a database in recent weeks to facilitate the agreement.
Coindesk asked Tether for comments.
